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PHOTO: CHRISTEL YARDLEY/STUFF REINZ data for May shows the number of homes for sale in Hamilton down 20 per cent from March at 772.
Sellers have taken the wheel as buyers scramble over a short supply of houses.
The drop in residential listings in Hamilton will be a factor in forcing house prices up, said Lodge Real Estate managing director Jeremy O’Rourke.
Coupled with the continuing buyer demand, the Treasury prediction that house prices will rise more than 18 per cent in the next four years is already materialising.
“It’s certainly true of our market. We are seeing that real pressure starting to be exerted on property,” O’Rourke said.
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